US Factory Activity Growth at Over 10-Year Low: Markit
The IHS Markit US Manufacturing PMI fell to 50.1 in June 2019 from 50.5 in the previous month and below market expectations of 50.4, a flash estimate showed. The latest reading pointed to the weakest expansion in factory activity since September 2009.
6/21/2019 2:01:43 PM
The latest reading was the lowest since September 2009 and only fractionally above the neutral 50.0 threshold. Weaker rates of production growth and staff hiring were the key factors weighing on the headline PMI, alongside the largest drop in stocks of purchases for almost a decade.